Akero Therapeutics (NASDAQ:AKRO) Trading Down 3.3% - Here's What Happened

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report)'s stock price was down 3.3% during trading on Monday . The stock traded as low as $53.14 and last traded at $53.81. Approximately 104,600 shares changed hands during trading, a decline of 90% from the average daily volume of 1,005,927 shares. The stock had previously closed at $55.62.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AKRO shares. Bank of America increased their target price on shares of Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Citigroup cut their price objective on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Finally, HC Wainwright raised their price objective on shares of Akero Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $82.50.

Akero Therapeutics Stock Down 1.7%

The stock has a fifty day moving average price of $43.96 and a 200-day moving average price of $40.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. The firm has a market cap of $4.36 billion, a PE ratio of -14.58 and a beta of -0.16.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.01) by $1.91. Research analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Insider Transactions at Akero Therapeutics

In other Akero Therapeutics news, CFO William Richard White sold 2,804 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $53.99, for a total value of $151,387.96. Following the transaction, the chief financial officer now owns 59,155 shares of the company's stock, valued at approximately $3,193,778.45. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G. Walmsley Graham acquired 91,309 shares of Akero Therapeutics stock in a transaction on Tuesday, March 25th. The shares were purchased at an average cost of $44.75 per share, for a total transaction of $4,086,077.75. Following the acquisition, the director now owns 1,091,309 shares in the company, valued at approximately $48,836,077.75. This represents a 9.13% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 206,787 shares of company stock valued at $9,507,000 over the last three months. Company insiders own 7.07% of the company's stock.

Institutional Trading of Akero Therapeutics

A number of large investors have recently made changes to their positions in AKRO. Northwest & Ethical Investments L.P. bought a new position in shares of Akero Therapeutics in the 1st quarter valued at about $32,000. GF Fund Management CO. LTD. bought a new stake in Akero Therapeutics in the 4th quarter valued at about $41,000. PNC Financial Services Group Inc. increased its position in shares of Akero Therapeutics by 30.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock worth $67,000 after purchasing an additional 390 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Akero Therapeutics by 764.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock valued at $50,000 after purchasing an additional 1,582 shares in the last quarter. Finally, Amalgamated Bank increased its position in Akero Therapeutics by 19.0% during the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company's stock worth $104,000 after purchasing an additional 410 shares in the last quarter.

Akero Therapeutics Company Profile

Akero Therapeutics, Inc, together with its subsidiary, engages in the development of treatments for patients with serious metabolic diseases in the United States. The company's lead product candidate is efruxifermin (EFX), which is in Phase 3 clinical trials that protects against cellular stress and regulates the metabolism of lipids, carbohydrates, and proteins throughout the body for the treatment of biopsy-confirmed metabolic dysfunction-associated steatohepatitis (MASH) patients.

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